Ontario Ministry of Finance

Ontario Ministry of Finance
Interest Rates
The Ontario Ministry of Finance announced today the interest rates that will apply to any amounts owed to the ministry and to any amounts the ministry owes to individuals and corporations. By law, the interest rates are reset every three months.
Interest rates for July 1, 2023 to September 30, 2023
10% on taxes owed to the ministry
4% on taxes overpaid
7% on taxes or refunds individuals and corporations are eligible for as a result of a successful appeal or objection
7% on late International Fuel Tax Agreement payments
7% on International Fuel Tax Agreement refunds the ministry has not paid within 90 days
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